Mass. Pension Fund Takes On Toyota After Recalls

The Massachusetts pension fund is suing Toyota for millions of dollars it lost in company stock after massive vehicle recalls.

The executive director of the fund, Michael Travaglini, claims Toyota hid information about defects in its cars.

Travaglini estimates the fund lost $20 million or more on thousands of Toyota shares in the months leading up to the recalls.

"Obviously, the company was withholding information which had a direct bearing on the stock price and that ended up being to the determent, the financial detriment of investors," Travaglini said.

Toyota faces more than 300 lawsuits in state and federal courts.